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Debbie Thrower visits the London Metal Exchange

Written by Guest blogger on 11 August 2008

Presenter Debbie Thrower blogs about the latest edition of Focus

“What ever you do don’t do this, this or this with your hands.” That was Thom my guide’s advice to me as I visited the busy floor of the London Metal Exchange. In other words don’t prod one finger in the air, or two or three. We’d gained entry as part of our half-hour “Focus” investigation in to the rise in thefts of lead, bronze and copper from churches, public buildings as well as homes and gardens.

Reading the news I’d noticed how many stories like these were cropping up. Metal thieves are making a mint selling stolen metal to China and other parts of Asia to fuel their industrial revolution. But the true scale of the problem is shocking. Drain covers that cost hundreds of pounds to replace are being sold on by criminals for just a tenner a piece. Bronze garden statuary is sold at a fraction of the art market price to satisfy Asia’s voracious appetite for raw materials.

Prices in legitimate trading have soared in the last decade, despite occasional dips, in what’s a volatile market. Last year the London Metal Exchange did a staggering forty billion dollars worth of business- every day! It’s one of the oldest trading floors in the world and one of the few where traders deal face to face rather than electronically through banks of computer screens. Business is conducted “in the ring” for a feverish few minutes every midday. And it’s pure drama to witness. The shouting is deafening!

You’ll be glad to hear I kept my arms folded, fists clenched, throughout the hectic bouts of buying and selling. Failure to keep hand gestures to a minimum could have proved catastrophic. Try swinging fifty tons of aluminium on your expenses? It doesn’t bear thinking about…  

Tune in to ITV for the Focus episode featuring Debbie’s experience in the Metal Exchange on August 28th


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